Executive Board Member Says Recent Moves Are Growth Friendly

DUBROVNIK, Croatia—The European Central Bank has the option of engaging in large-scale asset purchases, known as quantitative easing, but such a policy is not needed at present after the bank unveiled extraordinary measures to fight too-low inflation last week, a top ECB official said Friday.

"It's in the toolbox. It's not needed now, let me be very clear. It's not needed now because we don't see deflation in the euro zone and we have a deep sense that the measures we decided last week are appropriate to face the...